EOS
EOS fell by 0.50% on Wednesday. Following on from a 3.26% slide on Tuesday, EOS ended the day at $2.7547.
It was a bearish start to the day. EOS fell to an early morning intraday low $2.6931 before making a move.
Steering clear of the first major support level at $2.6548, EOS rallied to an early afternoon intraday high $2.8192.
Falling short of the first major resistance level at $2.8687, EOS fell back to sub-$2.80 levels and into the red.
At the time of writing, EOS was up by 0.33% to $2.7638. A mixed start to the day saw EOS fall to an early morning low $2.7492 before rising to a high $2.7657.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid a fall back through the $2.7557 pivot level to support a run at the first major resistance level at $2.8183.
Support from the broader market would be needed, however, for EOS to break back through to $2.80 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $2.8193 would likely cap any upside.
Failure to avoid a fall back through the pivot level at $2.7557 would bring the first major support level at $2.6921 into play.
Barring another extended sell-off, however, EOS should continue to steer clear of sub-$2.60 levels. The second major support level at $2.6295 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2.6921
Pivot Level: $2.7557
First Major resistance Level: $2.8183
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Ethereum
Ethereum rallied by 4.04% on Wednesday. Reversing most of a 4.59% slide from Tuesday, Ethereum ended the day at $351.10.
It was a mixed start to the day. Ethereum fell to an early morning intraday low $330.60 before finding support.
Steering clear of the first major support level at $322.89, Ethereum rallied to a late intraday high $359.41.
Ethereum broke through the first major resistance level at $354.54 before easing back to $350 levels.
Other attempts late in the day to break through to $360 levels also failed. The first major resistance levels and resistance at $360 pinned Ethereum back on the day.
At the time of writing, Ethereum was up by 0.40% to $352.42. A bullish start to the day saw Ethereum rise from an early morning low $350.23 to a high $343.07.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $347.04 pivot to support a run at the first major resistance level at $363.47.
Support from the broader market would be needed, however, for Ethereum to break back through to $360 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $347.04 pivot would bring the first major support level at $334.66 into play.
Barring an extended sell-off, however, Ethereum should continue to avoid sub-$300 levels. The second major support level at $318.23 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $334.66
Pivot Level: $347.04
First Major Resistance Level: $363.47
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rose by 1.11% on Wednesday. Partially reversing a 2.42% decline from Tuesday, Ripple’s XRP ended the day at $0.23918.
Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.23319 before making a move.
Steering clear of the first major support level at $0.2307, Ripple’s XRP rallied to a late intraday high $0.24302.
Coming up against the first major resistance level at $0.2430, Ripple’s XRP fell back to sub-$0.24 levels late in the day.
At the time of writing, Ripple’s XRP was up by 0.24% to $0.23976. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.23903 to a high $0.23976.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $0.2385 pivot to support a run at the first major resistance level at $0.2437.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.24302.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high would likely cap any upside.
Failure to avoid a fall through the $0.2385 pivot would bring the first major support level at $0.2339 into play.
Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub $0.22 levels. The second major support level at $0.2286 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $0.2339
Pivot Level: $0.2385
First Major Resistance Level: $0.2437
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
Please let us know what you think in the comments below.
Thanks, Bob
This article was originally posted on FX Empire